EUR Futures: further upside not ruled out

According to flash data for EUR futures markets from CME Group, investors added around 2.5K contracts to their open interest positions on Wednesday, resuming the previous uptrend. In the same direction, volume reversed Tuesday’s drop and increased by around 131.3K contracts.

EUR/USD still capped by 1.1050/60

EUR/USD managed to reverse a test of sub-1.10 levels on Tuesday amidst rising open interest and volume. That said, and in light of the recent price action, further consolidation around current levels is likely while occasional bullish attempts should meet strong hurdle in the 1.1050/60 band for the time being.